Our W2's were in our sign-in sheets this morning, which means I did my taxes as soon as I got home tonight! I love doing my taxes, because I always get a refund! This year it's about $2,500, more than any other year I can remember! YES! I have big plans for that money...E-fund, car loan. Wow, I'm boring. But I'm SO excited to get my car loan paid down! I feel like I could be back on track to get my car paid off by the end of June if all goes well.
I know that setting it up to get a refund is like giving the government an interest-free loan. And I have thought about changing my deduction...I just don't know how much I'd need to save each month to make sure my taxes could be paid. Anyone have any advice on this area?
Anyway, today is a good day! I'm off to plan my February budget and salivate at the thought of my tax return. :)
You can calculate it at the IRS website (http://www.irs.gov/individuals/article/0,,id=96196,00.html). I made the change last year and increased my take home by $124 per pay period which happened twice a month.
ReplyDeleteI have not completed my taxes and it looks like I may owe around $100. I think the calculator was pretty accurate.
It was worth the change.
Don't change your deduction, let the government hold on to it for you, if you get more money every month you will spend it on the small stuff, I rather get a nice check from the government every spring. It truly feels like I'm getting a big chunk of what we pay in taxes back!
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